Minhang aims big for headquarters economy

Shanghai's Minhang district is revving up effort to boost its headquarters economy — a driving force for the continuous upgrading of investment intensity — and create an important growth pole in the city's new round of high-quality development.

Since September 2020, the district has launched a series of promotion activities monthly to speed up the signing of key projects and enhance industrial agglomeration. To date, a total of 469 projects have been signed with a planned investment of 146.48 billion yuan. The number of projects in modern service and high-end manufacturing are 205 and 264, respectively.

In the recent session held this month, a total of 50 projects have been signed and more than one third of them are related to headquarters economy.

Eighteen enterprises including Derry Auto, Revoview Telecommunication Technologies Co Ltd and Tongda Group decided to set up national, regional and functional headquarters in Minhang in such sectors as high-end equipment, digital economy and technology services with the investment amounting to 5.58 billion yuan, accounting for 27.7 percent of the total investment.

Minhang also focuses on the innovative industrial chain, accelerates the transformation of new and old kinetic energy and promotes the advancement of science and technology.

During the event, a total of 29 projects, including those from PatSnap and Bright Laser Technology, center on industries of next-generation information technology, biomedicine and artificial intelligence, and have an investment of 5.94 billion yuan, accounting for 29.5 percent of the total investment.

Minghan has also signed a number of projects in such future industries as green and low-carbon development, digital economy, smart terminal, intelligence, energy and materials.

An official of Minhang said that in the future, the district will continue to upgrade traditional industries, eye on future industries and promote the high-quality development of pillar industries.

"We will fully support domestic enterprises with the best resources, policies and services, attract outstanding talents and create a better future together."